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A Common Sense Statement on Blockchain and the Business Mainnet

A Common Sense Statement on Blockchain and the Business Mainnet

For the People Who Run Corporate IT, Security, and Technology “Celia the CISO on the use of the Mainnet in the Enterprise “We permit our employees to consider uses of the Mainnet and public blockchain networks. We contribute and adhere to strict standards of appropriate use and security, so that we can confidently employ the Mainnet in production — when it is the right tool for the job.”

We are the people who make companies work. We keep them safe. We are practical. We build on what we have. We do not waste our time chasing every new thing. The technologies we adopt stand up to years of testing and skepticism.

If we say something works, it works. And when we say something works, we mean a specific set of functions work, under a specific set of conditions, always within specific tolerances. And when we are wrong, our careers are at stake.

When it comes to blockchain and distributed ledger technology (DLT), the path to proper use starts with knowing where not to use it.

We do not say that blockchain or DLTs always work as an acceptable way to store data, particularly not when sensitive information is involved and access control is important. We say instead, “Use traditional systems of record.”

We do not say that any public blockchain has the performance, control, or security attributes required to store the all data or run all the business logic of our mission-critical systems. We say instead, “Deploy mature platforms under well-tested procedures, with security at the top of the priority list…and performance next.”

But having spent a decade looking at public blockchain technology, we can now say with confidence that there are practical ways to use it in business that deliver unique value, support our best security practices, and reduce costs.

We define the Mainnet as: A state machine maintained as a public good that is always-on, pay-as-you-go, and w...
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